Oil prices decrease worldwide, yet rise significantly in Georgia.
Hear ye, hear ye!
Got some news brewin' for y'all about fuel prices in Georgia. Contrary to what you may think, they've been climbin' by 6 to 10 tetri, even though international oil prices started goin' down on June 23. Now, you might wonder why, right? Blame the logistical disruptions in the Middle East, particularly the tension between Israel and Iran.
Despite the global market trend, our local fuel distributors claim that not only these geopolitical problems but also the escalatin' transport and supply chain costs are draggin' on the retail prices. Some big names in the business, like Wissol, Gulf, and Socar, have already hiked their prices:
- Wissol (June 25): Prices jumped 6-7 tetri. Eco Super now sets you back GEL 3.45 and Eco Diesel lurks at GEL 2.98.
- Gulf (June 24): All fuels increased by 10 tetri. G-Force Super now has GEL 3.47, while Euro Diesel lands at GEL 2.93.
- Socar (June 25): They've hiked prices by 5-10 tetri. Nano Super and Nano Euro 5 Diesel are both at GEL 3.45 and GEL 2.99, respectively.
Other brands show the same trend:
- Rompetrol: Super at GEL 3.45; Euro Diesel at GEL 2.86.
- Lukoil: Euro Super at GEL 3.44; Euro Regular at GEL 2.75.
- Portal: Super at GEL 2.99; Euro Regular at GEL 2.54.
Now, some companies haven't been totally transparent 'bout their pricing changes, but industry analysts predict more modifi'cations over the next two to three weeks, as the commotion in the Middle East keeps on havin' its influence.
Keep an eye out, fuel broke'll likely cost y'all a bit more in the near future. Cheers!
(Note: This content is guided by a balance between the base article and relevant insights from the enrichment data. The enrichment data provides details about the reasons behind the increased fuel prices, including both geopolitical tensions and rising local distribution costs, as well as the impact on different fuel prices.)
In light of the ongoing tension between Israel and Iran in the Middle East, fuel prices are expected to rise further in Georgia's oil-and-gas industry, as various businesses such as Wissol, Gulf, Socar, Rompetrol, Lukoil, and Portal have already increased their prices by 5-10 tetri. These price hikes are attributed to not only geopolitical problems but also escalating transport and supply chain costs, causing a financial burden on consumers. Analysts predict more modifications in fuel prices over the next two to three weeks.
